Are Muslim children required to perform 5 daily prayers?

Prophet Muhammad ( peace and blessings be upon him ) said in a hadith that children should be taught how to pray when they reach 7 years of age , and that parents should punish them for missing prayers after they reach 10 years.

and this is to train them so that they can commit to praying after they reach puberty because prayer is obligatory upon a person after they reach puberty. and Allah doesn't hold you accountable for missing prayers before puberty.